Karnataka Approves ₹9,823.31 Crore Worth Of Industrial Projects, Expects Over 5,000 Employment Opportunities

2024-12-23 10:16:27

(MENAFN- Live Mint) Bengaluru, Dec 23 (PTI) The Karanataka government on Monday approved nine industrial projects with a total investment of ₹9,823.31 crore, which are expected to create approximately 5,605 jobs.

The projects were approved at the 64th meeting of the State High Level Clearance Committee (SHLCC), headed by Karnataka Chief Minister Siddaramaiah .

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While three of these are new investment proposals, the remaining six involve expansions or amendments to existing plans.

According to an official statement, the approved new projects include DN Solutions India Private Limited's ₹998 crore investment at the ITIR, Devanahalli, expected to create 467 jobs; Silectric Semiconductor Manufacturing Private Limited's ₹3,425.60 crore project at Kochanahalli, Mysuru, aimed at generating 460 jobs; and Sansera Engineering Limited's ₹2,150 crore project at Harohalli, which is estimated to create 3,500 jobs.

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The six expansion or amended projects with total investments worth ₹3249. 71 crore is expected to create 1178 jobs.

"During the meeting, Chief Minister Siddaramaiah announced that the first semiconductor project in the state would be established at the Kochanahalli Electronics Manufacturing Cluster near Mysuru," it stated.

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Urging investors acquiring KIADB (Karanataka Industrial Area Development Board) plots to operationalise their units within the prescribed timelines, he cautioned that penalties would be imposed on those failing to comply with the guidelines.

Siddaramaiah further added that the government is exploring the possibility of profit-sharing between sugar mills and farmers and instructed officials to examine similar practices in Maharashtra and Tamil Nadu the statement added.

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